A Key Audit Matter Is

question 63

Multiple Choice

A key audit matter is:

• A) a qualified report.
• B) should be specific to the entity and highlight matters that, in the auditor's professional judgement, were of most significance in the audit of the financial statements
• Of the current period.
• C) never permitted in Canada
• D) all of the above.

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Definitions:

Nominal Data

Categorical data that cannot be ordered or ranked in a meaningful way.

Ordinal Data

A type of categorical data with a set order or scale, but without a standard spacing between the categories.

Relative Frequency Distribution

A representation of the proportion of observations within each category of a dataset, often visualized with a histogram or pie chart.

Graphical Representation

The visual depiction of data or mathematical functions, which can include charts, graphs, diagrams, or other images to convey information visually.